Top Five Weekend Stock Stories, July 29th

Catch up on the weekend's top five stories with this list compiled by The Fly:

1. Canada, the EU, Japan, Mexico and South Korea will meet in Geneva next week to discuss how to respond to threats by U.S. President Donald Trump to impose tariffs on U.S. imports of autos and car parts, according to Reuters, citing officials familiar with the matter. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).

2. BMW (BMWYY) is planning to raise the prices of two U.S.-made crossover sport-utility vehicles in China to cope with the additional cost of tariffs on U.S. car imports, according to Reuters. Meanwhile, U.S. manufacturers are also said to be charging more to cope with rising steel and aluminum costs, The Wall Street Journal reported. Polaris Industries (PII) is raising prices on its boats, motorcycles, snowmobiles and other recreational vehicles to cover $15M of the $40M in tariff-related costs the manufacturer expects to pay for foreign-made steel, aluminum and components from China this year, the report noted. CEO Scott Wine said Polaris would accelerate plans to move production of motorcycles that it sells in Europe to Poland from Iowa to avoid rising European Union tariffs on U.S. motorcycles, a similar plan to the one announced by Harley-Davidson (HOG) in June, the publication added.

3. Facebook (FB) looks like a bargain after its recent tumble given its rarity and the company's strong balance sheet, Andrew Bary wrote in this week's edition of Barron's. The bearish argument is that Facebook is peaking, as user growth slows and expense growth outpaces revenue gains, but Facebook remains a powerful platform, with 1.5B daily users, strong engagement and no major competitor, he added.

4. Viacom (VIAB) owned Paramount's "Mission: Impossible - Fallout" opened to $61.5M from 4,306 theaters in North America, a franchise-high. Overseas, the movie earned $92M from its first 36 markets for a series-high global bow of $153.5M. "Mission: Impossible - Fallout" earned an A CinemaScore and sports a 97% Rotten Tomatoes score.

5. UnitedHealth (UNH), AO Smith (AOS), Zoetis (ZTS), MasterCard (MA), Nvidia (NVDA), Triton International (TRTN), Eli Lilly (LLY) and Fiat Chrysler saw positive mentions in Barron's.

Disclaimer: TheFly's news is intended for informational purposes only and does not claim to be actionable for investment decisions. Read more at 

more

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.